2 Top Dividend Stocks Yielding 5-7% I’d Buy Today

If you’re in search of great dividend stocks to buy and hold for decades, then you’ve come to the right place. Let’s take a closer look at two with yields of 5-7% that you could buy right now. Fiera Capital Corp. Fiera Capital Corp. (TSX:FSZ) is one of Canada’s largest independent asset-management firms, providing a wide range of traditional and alternative investment solutions to institutional investors, private wealth clients, and retail investors in North America and Europe. Fiera currently pays a quarterly dividend of $0.17 per share, representing $0.68 per share on an annualized basis, and this gives its stock…

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If you’re in search of great dividend stocks to buy and hold for decades, then you’ve come to the right place. Let’s take a closer look at two with yields of 5-7% that you could buy right now.

Fiera Capital Corp.

Fiera Capital Corp. (TSX:FSZ) is one of Canada’s largest independent asset-management firms, providing a wide range of traditional and alternative investment solutions to institutional investors, private wealth clients, and retail investors in North America and Europe.

Fiera currently pays a quarterly dividend of $0.17 per share, representing $0.68 per share on an annualized basis, and this gives its stock a yield of approximately 5% at today’s levels.

On top of being a high yielder, Fiera is one of the financial sector’s best dividend-growth stocks. It has raised its annual dividend payment for six consecutive years, and its two hikes in the last year, including its 6.7% hike in August 2016 and its 6.3% hike in March of this year, have it positioned for 2017 to mark the seventh consecutive year with an increase.

I think Fiera will continue to be a reliable dividend grower in 2018 and beyond as well. Its very strong financial performance, including its 8.7% year-over-year increase in adjusted net earnings to $0.25 per share in the first quarter of 2017, and its very strong growth of assets under management, which will be a driver of future earnings growth, including its 24.6% year-over-year increase to $122.06 billion as of March 31, will allow its streak of annual dividend increases to continue for many years to come.

Inter Pipeline currently pays a monthly dividend of $0.135 per share, representing $1.62 per share on an annualized basis, and this gives it a yield of about 6.1% at current levels.

Like Fiera Capital, Inter Pipeline is one of the best dividend-growth stocks in its industry. It has raised its annual dividend payment for eight consecutive years, and its 3.8% hike in November 2016 has it on pace for 2017 to mark the ninth consecutive year with an increase.

I think Inter Pipeline will continue to be one of the market’s best dividend-growth stocks in the future too. Its incredibly strong financial performance, including its 40.4% year-over-year increase in funds from operations (FFO) attributable to shareholders to $246.9 million in the first quarter of 2017, and its vastly improved dividend-payout ratio, including 60.6% of its FFO in the first quarter of 2017 compared with 74.6% in the year-ago period, will allow its streak of annual dividend increases to continue for the foreseeable future.

Which of these dividend stars belongs in your portfolio?

I think Fiera Capital and Inter Pipeline are two of the best dividend stocks in their respective industries. Foolish investors should take a closer look at each and strongly consider making at least one of them a core holding today.

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Fool contributor Joseph Solitro has no position in any stocks mentioned.

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